Equity benchmark indices Sensex and Nifty ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment.
Russian Foreign Minister Sergey Lavrov has confirmed that President Vladimir Putin has accepted an invitation from Prime Minister Narendra Modi to visit India. The visit is currently being prepared, though the dates have not yet been revealed. This visit follows Prime Minister Modi's trip to Russia in July 2024, his first since 2019. The two leaders have maintained regular contact and have emphasized the strength of the Russian-Indian strategic partnership.
Commerce Minister Piyush Goyal assures Parliament that India will take necessary steps to protect its national interests following the US announcement of tariffs on Indian goods. The government is assessing the implications and engaging with stakeholders.
China on Friday said the Shanghai Cooperation Organisation (SCO) summit to be held in Tianjin later this month will be the largest in the bloc's history, with 20 world leaders, including Prime Minister Narendra Modi, attending it.
Congress general secretary Jairam Ramesh said Modi should take inspiration from former prime minister Indira Gandhi and stand up to the president of the United States.
Since April this year, the ministry of defence of the Russian Federation has stopped recruiting citizens of a number of foreign countries, including India, into the military service, it said.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
The Indian government is studying the implications of US President Trump's announcement to impose tariffs on Indian goods and remains hopeful of concluding a bilateral trade agreement.
The problem is not just India's. China, too, must deal with a commercially resurgent Russia. Beijing had signed, in 2005, a $1-billion order for 34 giant IL-78 transport planes and 4 IL-78 refuelling aircraft. Now Russia has realised that it cannot meet its own as well as Beijing's requirements. That contract is being renegotiated at a higher price.
'Within 30 minutes of when Asim Munir made those comments, he should have been taken to Tampa airport and flown out of the United States.'
Equity markets this week will turn their focus on the RBI's interest rate decision, Q1 earnings from several blue-chip firms and tariff-related news for further cues, analysts said. Moreover, trading activity of foreign investors and trends in global equity markets will also drive investors' sentiment.
'India's a sovereign nation, they can make their own decisions in terms of who they're going to conduct exercises with'
The race to the uncharted south pole of the Moon is quickening with India's Chandrayaan-3 and Russia's Luna-25 gearing up for lunar landings next week, each mission holding significant implications beyond the thrilling competition in the skies.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
'It is time India calibrated a policy of what Indira Gandhi called equi-proximity rather than equi-distance between the US and Russia.'
India's National Security Advisor Ajit Doval is expected to attend a major security meeting in Moscow next week, organized by Russia's Security Council. Doval is invited for the 13th international meeting of high representatives for security issues, taking place from May 27-29. The meeting, chaired by Sergei Shoigu, Secretary of the Security Council of the Russian Federation, will see participation from over 150 countries and international organizations. Pakistan's NSA, Lt Gen Asim Malik, is also expected to attend the meeting, leading to speculation of a possible face-to-face meeting between the two NSAs amidst heightened tensions between India and Pakistan following the Pahalgam attack and subsequent retaliatory actions.
'The biggest point of contention is market access for US agricultural and dairy products.'
The annual meeting of the defence ministers of India and Russia, slated for Thursday, has been deferred till October 10 due to inability of the visiting minister to reach New Delhi.
The major advantages of such plants are no need of land to build the reactors, earthquake resistant, abundance of water for active or passive cooling.
Glimpses from India and around the world that will make you smile and cry.
Jaishankar said the UN Security Council condemned the attack and underlined the need to hold perpetrators, organisers, financiers and sponsors of the reprehensible act and bring them to justice.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
Though he does not know what New Delhi is intending to do, Berlin would "welcome any engagement", he added.
The Indian Army's broader reorganisation is inevitable as India's military doctrine adapts to the demands of the modern battlefield.
China is set to build a rail link connecting Xinjiang province with Tibet, part of which will run near the Line of Actual Control (LAC) with India.
Glimpses from India and around the world that will make you smile and cry.
Doval briefed his counterparts in the United States, United Kingdom, Saudi Arabia and Japan about India's missile strikes against terror infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir. He also established contact with Russia and France, officials said.
Russia on Wednesday said it is hoping for quick resolution of the issue relating to India's call for return of Indians recruited into the Russian Army as support staff and asserted their recruitment was purely a commercial matter.
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
Unless Donald Trump takes a major U turn, this is possibly the beginning of the end for Trumpian politics, argues Colonel Anil A Athale (retd). Unless President Trump takes a major U turn, this is possibly the 'beginning of the end' for Trumpian politics driven by TV trp's, points out Colonel Anil A Athale (retd).
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
ISRO to launch a 6,500 kg communication satellite built by the US, marking a significant milestone in the Indian space program after the successful launch of the NASA-ISRO NISAR mission.
This was announced by Commerce and Industry Minister Kamal Nath at the conclusion of the 2nd meeting of India-Russia Forum on Trade and Investment, coinciding with the visit of Russian Prime Minister Victor A Zubkov in New Delhi on Wednesday.
Dar also said Pakistan views Russia as an important player in the West, South and Central Asia, and strengthening mutually beneficial cooperation with Russia remains an important priority for Pakistan's foreign policy.
Prime Minister Narendra Modi on Friday said India will never compromise the interests of its farmers, fishermen and dairy farmers, asserting that he would be ready to pay any price.
The government stated that Operation Sindoor was launched in response to a 'barbaric' attack by 'Pakistan-sponsored terrorists,' focusing on dismantling terror infrastructure and neutralizing terrorists likely to be sent across to India.
External Affairs Ministry spokesperson Randhir Jaiswal said India has a long-standing relationship with Russia which is based on "mutuality" of interests.
He said both countries are opening new areas of cooperation in the energy sector, telecommunications and science and technology and they have set up funds to facilitate investment in high technologies.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
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